Saudi sovereign fund PIF raises stake in Japanese film company Toei to 6%
March 02, 2023 at 08:00 pm EST
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TOKYO (Reuters) - Saudi Arabia's Public Investment Fund (PIF) has increased its stake in Toei Co Ltd to 6%, a filing showed on Friday, reflecting the sovereign wealth fund's growing exposure to the Japanese media industry.
PIF's stake in the Tokyo-based film and animation firm has risen from 5% to 6.03%, according to the ownership report filed with Japanese regulators.
PIF last month revealed raising its stake in the e-sports giant Nintendo to 8.26%. The leading sovereign fund has also invested in Japanese gaming companies Nexon, Capcom and Koei Tecmo.
(Reporting by Kantaro Komiya; Editing by Christian Schmollinger)
TOEI COMPANY, LTD. is a Japan-based company mainly involved in the image related business. It has five business segments. The Image-related segment is engaged in the production, distribution, import and export of theater movies, the production and sale of digital versatile disk (DVD), the production and distribution of television (TV) films, the development of movie films, as well as the advertising agency business, among others. The Distribution-related segment operates direct managed theaters and cinema complexes. The Event-related segment plans and operates the characters in its films and culture events. The Tourism and Real Estate segment is engaged in the leasing of real estate and the operation of hotels. The Construction and Interior Decoration segment is involved in the construction and interior decoration businesses.
TOEI COMPANY, LTD. 
